US runs $129 Bill deficit in July pushing the fiscal deficit close to $1.1 Trill

U.S. runs deficit of $129 billion in July pushing the fiscal year-to-date deficit close to $1.1 trillion
10 August 2011, by Robert Schroeder - Washington (MarketWatch)
http://www.marketwatch.com/story/us-runs-deficit-of-129-billion-in-july-2011-08-10

Excerpt:

The U.S. government ran a budget deficit of $129 billion in July, the Treasury Department reported Wednesday, pushing the fiscal year-to-date deficit close to $1.1 trillion.

The latest monthly deficit was $36 billion less than the $165 billion figure reported in July of last year — though it is just $8 billion less when factoring in certain one-time transactions, Treasury said.

Few in Congress or the White House are likely to get excited about the smaller July deficit.

Members of Congress are gearing up to find some $1.2 trillion in deficit reduction over the next decade through a “super committee” created by the recently struck deal to raise the U.S. debt ceiling.

In July, the government spent about $288 billion and took in $159 billion.